Qatar to Invest $20 Billion in Nine Projects in Kazakhstan
Qatar to Invest $20 Billion into Nine Projects in Kazakhstan
The Senate, the upper house of the Kazakh Parliament, recently approved an agreement on a long-term strategic partnership between Qatar and Kazakhstan, in which Qatar has committed to investing $20 billion into nine projects within the country.
The projects will cover various sectors including telecommunications, energy, transport, petrochemicals, agriculture, and finance. The agreement also includes provisions to protect investors from property seizures, ensure tax regime stability, and offer tax and customs benefits.
One of the key projects outlined in the agreement is the creation of a new communications operator in Kazakhstan. Additionally, plans include the construction of a gas processing plant at the Kashagan field, the development of the second line of the Beineu-Bozoi-Shymkent gas pipeline, a power plant in the Kyzylorda Region, and a hydroelectric power station on the Irtysh River.
In a separate development, the Kazakh Ministry of National Economy disclosed that on October 9, the Mazhilis, the lower house of the Parliament, approved a military cooperation agreement between Kazakhstan and Qatar. This agreement covers areas such as military education, science, medicine, consultations on peacekeeping operations, and combat training, allowing both countries to utilize each other’s training grounds.
Deputy Minister of Defense, Darkhan Akhmediyev, highlighted that Kazakhstan has similar agreements with over 20 other countries, including Azerbaijan, Belarus, Russia, Turkey, and more. This new partnership between Qatar and Kazakhstan signifies a significant step towards strengthening diplomatic relations and enhancing cooperation in various sectors for mutual benefits.
